What NJ Justices Got Right In Lost Promissory Notes Ruling

Law360 (July 30, 2020, 5:47 PM EDT) -- Even today, with all the benefits of digital document storage and reproduction, lawyers and their clients must occasionally spare a thought for the power of an original, physical document. This is particularly true of promissory notes, which, under the Uniform Commercial Code, are usually transferred by possession.

But even the best of us will misplace something on occasion, and there is a split of authority concerning what happens when a noteholder loses a note and sells or assigns its rights under the lost note to a new party.

The New Jersey Supreme Court, like many courts before it across the U.S.,...

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